TechFlow news, according to data analytics platform Santiment, Ethereum's market capitalization has dropped 36% from its recent peak seven weeks ago, leading to a significant decline in the number of profit-making ETH tokens. Data shows that the Ether supply profitability has hit a four-month low, while the number of profitable tokens has fallen to a three-month low.
Santiment noted that due to ETH underperforming compared to other major cryptocurrencies, market sentiment toward Ethereum has turned bearish. Amid widespread FUD (fear, uncertainty, and doubt) and active retail selling, once the crypto market stabilizes, there could be some unexpected rebounds.
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